Annual house price forecasts from the big estate agents and consultancies aren’t what they used to be - that’s inevitable five years into a downturn with little sign of any change in 2013 (aside from a threat of a triple-dip) so, to be honest, there may simply be little new to say about the housing market.
With a couple of estate agents putting embargoes on their figures to suit one particular paper (mildly irritating for the other outlets and freelances, but not important to the public) the coverage this year is likely to be less than in the past. But this blog will keep up with the next six weeks of forecasts.
First out of the blocks is Hamptons International - a bigger player than before in the league table of estate agency research - with its analysis of the coming 12 months. It forecasts:
- UK house prices up 2%;
- Greater London and Prime Central London staying static, so no change;
- Total England/Scotland/Wales transactions predicted at 720,000, a miserly 1% rise on the likely 2012 figure;
- UK rental market will remain static;
- Greater London rental market up 2% but Prime Central London rents down 1%;
- UK prices predicted to rise 2% annually in 2014 and 2015, then 4% in 2016.
Marc Goldberg, Hamptons’ head of sales, says: “We’re expecting the value gap between PCL and the rest of the UK to begin to slow and stabilize next year. PCL has been badly impacted by Government policy this year and since spring we have seen price falls of around 2% in the £2m to £10m market. Outside of PCL and Greater London, we’re predicting growth in the UK market. Commuter belt areas across the south of England in particular will be an interesting story with increases driven by price-sensitive London buyers who are seeking more value for money.”
Watch this blog for new agency and consultancy forecasts...
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